StraitsX, which happens to be a licensed payment institution, formally announced that it would display its stablecoin. However, this will be in the form of a piloted version and a series of their stablecoin applications. Incidentally, the Monetary Authority of Singapore (MAS) is the licensing and regulatory body. The platform venue that will be gainfully utilized is the very prestigious Singapore Fintech Festival (SSF) 2022. The entire aim and intention behind this exercise are to effectively put forth the true use and value of the stablecoin applications and their importance in the real world.
Along with all this, the platform will convey the numerous benefits it brings in the case scenario of overall trade and commerce-related activities. Another activity that the team at StraitsX has duly planned is to focus on the three important real-world uses of the applications in the company of its main and prime partners.
According to the Head of StraitsX, Aymeric Salley, there has been a major shift in the overall digital asset scenario, with more institutions actually understanding and appreciating the various favorable aspects of blockchain technology worldwide. However, in his opinion, the true potential of utilizing the stablecoin by most of the prospective communities has been unfortunately overlooked and thoroughly underestimated.
It is also in terms of considering the stablecoin as a valuable payment mode in matters of real-world applications. All of these factors, in his viewpoint, needed to be corrected with people becoming more aware of the overall benefits attached to them. For example, he cites cases of business-related applications, like B2B settlement case scenarios, making offline payments, and the dependability issue.
